Kuwait to base budget on $43 oil price

Kuwait is expected to base its budget for 2010/11 on a crude oil price of $43 per barrel, according to a report in Al-Watan newspaper. The report states that technical committees at the finance ministry

approved the estimated price of $43 a barrel on Saturday.

The price is higher than the $35 per barrel oil price which the country used during its previous fiscal year, the report says.